I like @MidnightNetwork But I also don't want to write articles just to promote the project. So this is a real perspective, it has both good and bad.

The good is clear:

ZK privacy really has a use case, a strong team, the widest distribution in crypto history, and a roadmap with specific milestones.

What needs to be careful:

Token unlock pressure. More than 80% of the supply is still locked and will gradually unlock over 360 days. With 8 million holders, a significant portion will sell as soon as thawing occurs. This is real selling pressure, not theoretical.

Mainnet is not live yet. Currently, Midnight is still running on Cardano as a partner chain. The real L1 Mainnet is expected in 2026, meaning everything is still being built. Execution risks are always present.

Competition in privacy is increasing. Monero, Zcash, Aztec, Aleo,... there are no shortage of competitors. Midnight needs to prove that "compliant privacy" is a strong enough narrative to win long-term.

Regulatory. Privacy blockchain is always a target for regulatory agencies. Although Midnight is designed to be compliant, nothing is guaranteed 100%.

$NIGHT has pumped ~200% right after launch and adjusted back to the current range of ~$0.044. The market is re-evaluating based on reality. It's not a meme, but it also carries risks.

DYOR. This is not financial advice. #night